A new energy partnership between the European Union and Russia should be legally binding, E.U. External Relations Commissioner Benita Ferrero-Waldner said in an interview Tuesday.
The agreement on energy will be based on "transparency, mutual dependency and non-discrimination" and "will be legally binding," Ferrero-Waldner told the Russian government daily Rossiyskaya Gazeta.
The E.U. and Russia are due to start long-delayed negotiations on a new partnership agreement at a summit in Siberia later this month, with energy ties topping the agenda as the E.U. grows increasingly reliant on Russian oil and gas.
A cut-off of Russian oil to Lithuania and disruptions to gas supplies across Europe in 2006 as a result of a price dispute between Russia and Ukraine have raised fears in E.U. capitals about Russia's reliability as an energy partner.
Russian officials insist that Moscow can safeguard supplies and have expressed their own concerns about access to E.U. energy markets for Russian companies, including state gas monopoly OAO Gazprom (GAZP.RS).
Ferrero-Waldner said the new E.U.-Russia partnership should also reflect "democratic values and respect for human rights" and include provisions to boost investments between the European Union and Russia.
"In our view European companies can be involved a lot more in the modernization and diversification of the Russian economy. The same can be said about Russian companies aiming to invest in the European Union," she said.